DCX shares are on the move

By From freep| Mar 30 2007
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DaimlerChrysler AG was among the most active shares on the German stock market Thursday.

The world’s fifth-largest automaker and parent company of Auburn Hills-based Chrysler Group saw shares of its common stock increase 45 cents to 61.10 euros in Frankfurt, Germany.

On the New York Stock Exchange, DCX stock is up a penny to $81 a share in pre-market trading Thursday morning. The automaker’s stock is about $2 below the 52-week high of $83.21 a share.

Shares of DaimlerChrysler have risen in recent weeks in Europe and North America, as rumors of the sale of the Chrysler Group abound.

Last month, officials at Stuttgart-based DaimlerChrysler announce a major financial restructuring program that calls for the slashing of as many as 13,000 jobs, of which more than 5,000 are expected to come from Michigan.

At the time, DCX Chief Executive Officer Dieter Zetsche didn’t rule out the possibility of a sale or spinoff of the Chrysler Group, as part of the restructuring plan.

Next week, DaimlerChrysler convenes its annual shareholder meeting in Berlin.

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